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UK Home Loans Decline, Stocks Fall
Sep 23, 7:39 PM ET |
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| UK investors are increasingly worried about the global economic health and its impact on the UK traded companies. Financials declined as the U.S. lawmakers debated the size and nature of the bailout plan. Metal and crude oil prices dropped and dragged down mining companies. |
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HK, Shanghai Indexes Drop 3.8%
Sep 23, 5:09 PM ET |
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| Hong Kong and Shanghai stocks fell 3.8% after investors worried that the U.S. bailout plan will spread inflation around the world. Transportation stocks fell after crude oil jumped. Mining stocks rose. China to issue 25 billion yuan of treasury bonds at 3.68% interest rate. |
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Sensex Drops 3%, IT Stocks Drop
Sep 23, 7:41 PM ET |
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| Benchmark stock index in India dropped more than 3% after nine domestic banks are estimated to have 2,000 crore rupees exposure to the U.S. financial crisis. ICICI Bank, HDFC Bank and State Bank of India dropped. Realty stocks fell after worries of the economic slowdown gripped investors. |
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Australian Stocks Fall in Regional Decline
Sep 23, 5:10 PM ET |
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| Stocks in Australia fell as investors in the region sold financial stocks. Metals and crude oil prices surged as the U.S. dollar dropped. Sino Gold led the gainers in the ASX 200 index with a rise of 16% followed by gains in Babcok & Brown of 13%. |
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Oil Surges 15%, Gold Up 5%; Dollar, Stocks Fall
Sep 22, 10:55 PM ET |
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| U.S. stocks drop after investors worried that bailout plan may be inadequate and the economy may still slide into a recession as the Republican administration carries out the largest bailout of banks. Gold and crude oil surges 5%, silver soars 8%. Dollar plunged against euro and yen. |
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Goldman, Morgan Approved as Banks
Sep 22, 11:57 AM ET |
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| The two leveraged investment banks decided to seek approval to operate under the Fed supervision. Morgan Stanley also agreed a stake sale. |
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| Goldman Sachs and Morgan Stanley sought and received approval to transform to depository institution under the supervision of Federal Reserve. Morgan Stanley agreed to sell up to 20% of stake to Mitsubishi UFJ of Japan. Crude oil and metals prices gain as dollar is expected to weaken. |
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European Markets Drop; Automakers Fall
Sep 22, 1:38 PM ET |
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| European markets in the region fell between 1.6% and 2%. Regulators in the region followed the U.S. initiative to ban short selling in financial stocks till the end of the year. Crude oil and metals prices increased and German auto companies fell. Banks in Ireland declined on ratings downgrade. |
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UK Home Prices Fall; Nomura and Lehman Deal
Sep 22, 4:56 PM ET |
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| Stocks in London fell after the U.S. lawmakers debate the merits and details of $700 billion bailout plan. Nomura of Japan is the top contender for Lehman Brothers asssets in Europe and Asia. UK home prices fel 3.3% in September from a year ago as credit markets remain tight. Oil prices surge. |
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Aso Leads LDP; Nikkei Rise 1.4%
Sep 22, 4:23 PM ET |
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| Stocks in Japan rose on the optimism that the U.S. bailout plan of $700 billion will improve liquidity in the credit markets. The Bank of Japan added liquidity to the system. Commodities prices gained as well. Taro Aso was elected as the leader of the LDP party. Konica Minolta surged 13%. |
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Weak Rupee, Sensex Falls
Sep 22, 3:24 PM ET |
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| Stocks in Mumbai fell after crude oil futures rose and rupee fell against the dollar. Reliance Industries began its oil production from deep water wells near Gujarat State Investors fear that ongoing dispute on its sale price may drag beyond its peak production in February 2009. |
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